CARES Act

In response to COVID-19, Congress passed the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act. The act contains several provisions relevant to charitable giving. Under the new law, these are unique opportunities for charitable giving only in 2020:

Universal charitable deduction up to $300, if you don't itemize your tax return

Unlimited charitable deduction for anyone who does itemize on their tax return (removal of usual deductibility cap of 60% of adjusted gross income)

Children’s Medical Center Foundation is exempt from tax under section 501(c)(3) of the Internal Revenue Code and qualifies for the maximum charitable contribution deduction by donors. Our Federal Identification Number is 75-2062015.